ICICI Direct has given Buy recommendation for Shoppers Stop with a target price of Rs. 705 in its research report issued on Jul 27, 2022
ICICI Direct’s research report on Shoppers Stop
Shoppers Stop (SSL) is one of India’s leading departmental stores and has undergone various structural changes with focus on enhancing its share of private label brands and beauty portfolio, accelerating growth through digital channels and providing better shopping experience through ‘personal shoppers’ • Operates 90 departmental stores and 171 beauty format stores spread across 4.2 million sq. ft. and present in 47 cities.
We value SSL at Rs 705 i.e. 11.5x FY24E EV/EBITDA.